Recent News
On August 27, 2026 the company released fiscal second-quarter results showing lower revenue versus the prior year, expanded gross margin to about 18.6%, a net loss of approximately $9.2 million (‑$0.40 per diluted share), and adjusted EBITDA near $4.6 million; agriculture sales declined while construction delivered same‑store growth, with mixed performance across Europe and Australia.
Technical Analysis
Directional Indicators (ADX / DI+ / DI-): ADX at 26.63 signals a strong underlying trend. DI+ at 33.86 shows a peak & reversal, which reads as a bearish directional shift. DI- at 17.50 and decreasing provides a bullish offset by reducing downward pressure. Together these directional indicators deliver contrasting signals that increase the chance of volatile, directional swings rather than a smooth trend extension.
MACD: MACD sits at 1.30, the MACD trend reads increasing, and the MACD has crossed above its 0.93 signal line — a bullish momentum confirmation that supports near‑term upside continuation if maintained.
MRO (Momentum/Regression Oscillator): MRO at 37.3 and rising indicates the market price runs above the model target and therefore contains measurable downside potential; the upward MRO trend amplifies the magnitude of that potential reversion.
RSI and Moving Averages: RSI at 53.75 and rising indicates modest bullish momentum. Price at $24.27 sits above the 12‑day EMA ($22.97), the 20‑day average ($22.34), the 50‑day average ($19.71) and the 200‑day average ($18.80), signaling price leadership relative to short‑ and long‑term averages and aligning with the bullish MACD signal.
Bands, Volume & Support: Price sits between the 1× Bollinger bands (lower $19.41 / upper $25.27). Short‑term volume at 237,837 trails the 10‑day average (379,211), which weakens confirmation behind the current move. Ichimoku Tenkan/Kijun at $21.73 and the superTrend lower at $21.73 provide proximate technical support should momentum falter.
Fundamental Analysis
Profitability: Operating income reads -$5,099,000 and EBIT -$4,299,000, producing an EBIT margin of -0.82% (QoQ change -59.8%; YoY change -14.7%). Earnings growth stands at -61.54% (QoQ -97.92%; YoY -52.97%), and net income registers -$12,616,000 with EPS of -$0.40 versus an estimate of -$0.36 (EPS surprise -11.11%). These metrics show margin compression and negative profitability despite a modest EBITDA of $4,729,000.
Cash Flow & Working Capital: Operating cash flow finished at -$23,092,000 and free cash flow at -$25,636,000; free cash flow yield sits negative. Cash and short‑term investments total $29,578,000 while inventory runs very large at $914,825,000 and the cash conversion cycle extends to 156 days — nearly double the industry peer mean — reflecting heavy working‑capital deployment and tight liquidity conversion.
Leverage & Liquidity: Total debt stands at $858,315,000 with net debt of $736,029,000 versus market capitalization of about $469.1 million. Debt‑to‑equity reads 1.52 and debt‑to‑EBITDA sits around 181.5, indicating highly elevated leverage relative to earnings. Current ratio at 1.38 and quick ratio at 0.22 show limited near‑term liquidity cushion on a conservative basis.
Revenue Trends & Margins: Total revenue registers $522,381,000 with QoQ revenue growth of +43.8% and revenue growth YoY of -14.6%. Gross margin improved to ~17.09% in available metrics, but operating and EBIT margins remain negative, leaving earnings and cash flow pressure despite margin improvements on equipment mix.
Valuation Summary: The current valuation as determined by WMDST reads over‑valued. Negative earnings, sustained negative free cash flow, very high leverage, and an extended cash conversion cycle underpin that valuation judgment despite recent margin gains and short‑term technical strength.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-04-30 |
| REPORT DATE: | 2026-08-27 |
| NEXT REPORT DATE: | 2026-11-26 |
| CASH FLOW | Begin Period Cash Flow | $ 28.2 M |
| Operating Cash Flow | $ -23.09 M | |
| Capital Expenditures | $ -2.54 M | |
| Change In Working Capital | $ -21.81 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 1.4 M | |
| End Period Cash Flow | $ 29.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 522.4 M | |
| Forward Revenue | $ 34.4 M | |
| COSTS | ||
| Cost Of Revenue | $ 433.1 M | |
| Depreciation | $ 9.0 M | |
| Depreciation and Amortization | $ 9.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 527.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 89.3 M | |
| EBITDA | $ 4.7 M | |
| EBIT | $ -4.30 M | |
| Operating Income | $ -5.10 M | |
| Interest Income | $ 1.3 M | |
| Interest Expense | $ 8.2 M | |
| Net Interest Income | $ -6.87 M | |
| Income Before Tax | $ -12.47 M | |
| Tax Provision | $ 141.0 K | |
| Tax Rate | 40.0 % | |
| Net Income | $ -12.62 M | |
| Net Income From Continuing Operations | $ -12.62 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.36 | |
| EPS Actual | $ -0.40 | |
| EPS Difference | $ -0.04 | |
| EPS Surprise | -11.111 % | |
| Forward EPS | $ -0.14 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.6 B | |
| Intangible Assets | $ 118.4 M | |
| Net Tangible Assets | $ 448.1 M | |
| Total Current Assets | $ 1.1 B | |
| Cash and Short-Term Investments | $ 29.6 M | |
| Cash | $ 29.6 M | |
| Net Receivables | $ 70.9 M | |
| Inventory | $ 914.8 M | |
| Long-Term Investments | $ 593.0 K | |
| LIABILITIES | ||
| Accounts Payable | $ 43.8 M | |
| Short-Term Debt | $ 615.1 M | |
| Total Current Liabilities | $ 788.5 M | |
| Net Debt | $ 736.0 M | |
| Total Debt | $ 858.3 M | |
| Total Liabilities | $ 1.0 B | |
| EQUITY | ||
| Total Equity | $ 566.5 M | |
| Retained Earnings | $ 293.5 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 24.30 | |
| Shares Outstanding | 23.309 M | |
| Revenue Per-Share | $ 22.41 | |
| VALUATION | Market Capitalization | $ 469.1 M |
| Enterprise Value | $ 1.3 B | |
| Enterprise Multiple | 274.444 | |
| Enterprise Multiple QoQ | -185.222 % | |
| Enterprise Multiple YoY | -37.482 % | |
| Enterprise Multiple IPRWA | TITN: 274.444 high: 96.248 mean: 61.867 median: 52.312 low: 22.728 |
|
| EV/R | 2.484 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.851 | |
| Asset To Liability | 1.54 | |
| Debt To Capital | 0.602 | |
| Debt To Assets | 0.532 | |
| Debt To Assets QoQ | 4.05 % | |
| Debt To Assets YoY | -5.543 % | |
| Debt To Assets IPRWA | high: 0.891 TITN: 0.532 median: 0.32 mean: 0.307 low: 0.083 |
|
| Debt To Equity | 1.515 | |
| Debt To Equity QoQ | 6.264 % | |
| Debt To Equity YoY | -9.317 % | |
| Debt To Equity IPRWA | high: 1.668 TITN: 1.515 mean: 0.893 median: 0.677 low: 0.109 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.828 | |
| Price To Book QoQ | 16.517 % | |
| Price To Book YoY | 23.534 % | |
| Price To Book IPRWA | high: 14.944 mean: 9.413 median: 7.371 TITN: 0.828 low: -5.934 |
|
| Price To Earnings (P/E) | -36.592 | |
| Price To Earnings QoQ | 196.935 % | |
| Price To Earnings YoY | 20.922 % | |
| Price To Earnings IPRWA | high: 138.864 mean: 95.762 median: 79.25 low: 35.074 TITN: -36.592 |
|
| PE/G Ratio | 0.595 | |
| Price To Sales (P/S) | 0.898 | |
| Price To Sales QoQ | 39.992 % | |
| Price To Sales YoY | 31.503 % | |
| Price To Sales IPRWA | high: 22.03 median: 12.295 mean: 12.035 TITN: 0.898 low: 0.452 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -173.774 | |
| Forward PE/G | 2.824 | |
| Forward P/S | 18.298 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.616 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.323 | |
| Asset Turnover Ratio QoQ | -14.717 % | |
| Asset Turnover Ratio YoY | -1.771 % | |
| Asset Turnover Ratio IPRWA | high: 0.639 median: 0.455 mean: 0.392 TITN: 0.323 low: 0.144 |
|
| Receivables Turnover | 7.004 | |
| Receivables Turnover Ratio QoQ | -6.832 % | |
| Receivables Turnover Ratio YoY | -9.852 % | |
| Receivables Turnover Ratio IPRWA | TITN: 7.004 high: 2.662 mean: 1.81 median: 1.666 low: 1.488 |
|
| Inventory Turnover | 0.476 | |
| Inventory Turnover Ratio QoQ | -17.828 % | |
| Inventory Turnover Ratio YoY | 4.498 % | |
| Inventory Turnover Ratio IPRWA | high: 1.819 median: 1.235 mean: 1.15 low: 0.754 TITN: 0.476 |
|
| Days Sales Outstanding (DSO) | 13.029 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 156.017 | |
| Cash Conversion Cycle Days QoQ | -7.598 % | |
| Cash Conversion Cycle Days YoY | 5.21 % | |
| Cash Conversion Cycle Days IPRWA | high: 157.145 TITN: 156.017 mean: 79.337 median: 75.277 low: 16.536 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.764 | |
| CapEx To Revenue | -0.005 | |
| CapEx To Depreciation | -0.282 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 717.0 M | |
| Net Invested Capital | $ 1.3 B | |
| Invested Capital | $ 1.3 B | |
| Net Tangible Assets | $ 448.1 M | |
| Net Working Capital | $ 296.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.038 | |
| Current Ratio | 1.376 | |
| Current Ratio QoQ | -2.573 % | |
| Current Ratio YoY | 3.314 % | |
| Current Ratio IPRWA | high: 4.18 mean: 2.313 median: 2.312 TITN: 1.376 low: 0.764 |
|
| Quick Ratio | 0.215 | |
| Quick Ratio QoQ | -11.037 % | |
| Quick Ratio YoY | 18.719 % | |
| Quick Ratio IPRWA | high: 2.59 mean: 1.365 median: 1.315 low: 0.513 TITN: 0.215 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 181.5 | |
| Cost Of Debt | 0.583 % | |
| Interest Coverage Ratio | -0.526 | |
| Interest Coverage Ratio QoQ | -61.798 % | |
| Interest Coverage Ratio YoY | 5.867 % | |
| Interest Coverage Ratio IPRWA | high: 493.0 mean: 106.135 median: 19.76 low: 0.595 TITN: -0.526 |
|
| Operating Cash Flow Ratio | 0.001 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 6.491 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.133 % | |
| Revenue Growth | -18.611 % | |
| Revenue Growth QoQ | 4384.578 % | |
| Revenue Growth YoY | -14.589 % | |
| Revenue Growth IPRWA | high: 20.81 % mean: 10.491 % median: 9.622 % low: 5.884 % TITN: -18.611 % |
|
| Earnings Growth | -61.538 % | |
| Earnings Growth QoQ | -97.921 % | |
| Earnings Growth YoY | -52.971 % | |
| Earnings Growth IPRWA | high: 95.833 % median: 31.411 % mean: 25.326 % TITN: -61.538 % low: -90.698 % |
|
| MARGINS | ||
| Gross Margin | 17.092 % | |
| Gross Margin QoQ | 26.15 % | |
| Gross Margin YoY | 11.712 % | |
| Gross Margin IPRWA | high: 44.56 % median: 39.274 % mean: 37.052 % low: 17.161 % TITN: 17.092 % |
|
| EBIT Margin | -0.823 % | |
| EBIT Margin QoQ | -59.814 % | |
| EBIT Margin YoY | -14.715 % | |
| EBIT Margin IPRWA | high: 26.871 % mean: 17.315 % median: 16.292 % low: 2.44 % TITN: -0.823 % |
|
| Return On Sales (ROS) | -0.976 % | |
| Return On Sales QoQ | -28.341 % | |
| Return On Sales YoY | 1.14 % | |
| Return On Sales IPRWA | high: 25.941 % mean: 16.989 % median: 16.072 % low: 2.524 % TITN: -0.976 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -25.64 M | |
| Free Cash Flow Yield | -5.465 % | |
| Free Cash Flow Yield QoQ | -145.364 % | |
| Free Cash Flow Yield YoY | 1136.425 % | |
| Free Cash Flow Yield IPRWA | high: 3.207 % median: 0.383 % mean: 0.219 % low: -0.433 % TITN: -5.465 % |
|
| Free Cash Growth | -151.685 % | |
| Free Cash Growth QoQ | -358.451 % | |
| Free Cash Growth YoY | 49.148 % | |
| Free Cash Growth IPRWA | high: 67.488 % median: -73.123 % mean: -78.615 % TITN: -151.685 % low: -188.341 % |
|
| Free Cash To Net Income | 2.032 | |
| Cash Flow Margin | 0.136 % | |
| Cash Flow To Earnings | -0.056 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -0.781 % | |
| Return On Assets QoQ | -63.436 % | |
| Return On Assets YoY | 6.84 % | |
| Return On Assets IPRWA | high: 7.289 % mean: 4.372 % median: 3.591 % low: -0.565 % TITN: -0.781 % |
|
| Return On Capital Employed (ROCE) | -0.52 % | |
| Return On Equity (ROE) | -0.022 | |
| Return On Equity QoQ | -64.328 % | |
| Return On Equity YoY | 2.109 % | |
| Return On Equity IPRWA | high: 0.207 mean: 0.096 median: 0.094 low: 0.01 TITN: -0.022 |
|
| DuPont ROE | -2.202 % | |
| Return On Invested Capital (ROIC) | -0.194 % | |
| Return On Invested Capital QoQ | -67.72 % | |
| Return On Invested Capital YoY | -31.69 % | |
| Return On Invested Capital IPRWA | high: 10.611 % mean: 6.59 % median: 6.364 % low: 1.09 % TITN: -0.194 % |
|